Meeting Agenda

Approved Meeting Minutes

The minutes for the Austin Housing Finance Corporation meeting of December 6, 2007 were approved on the 10th day of January, 2008 on Board Member McCracken's motion, Board Member Martinez' second on a 6-0 vote. Board Member Leffingwell was off the dais.

Agenda Items

Item AHFC001 - December 6, 2007

Approve the minutes of the October 11, 2007 Board meeting of the Austin Housing Finance Corporation.

The minutes for the Austin Housing Finance Corporation meeting of October 11, 2007 were approved on Board Member Leffingwell's motion, Board Member McCracken's second on a 6-0 vote. President Wynn was off the dais.

Work Papers and Other Backup Documentation

Item AHFC002 - December 6, 2007

Approve negotiation and execution of one or more construction contracts with ILCOR HOMES, INC., Austin, Texas, to build ten single-family homes on lots located in the Montopolis Frontier at Montana Subdivision, in a total amount not to exceed $1,039,480.00 for all contracts.

The motion authorizing the negotiation and execution of construction contracts with Ilcore Homes, Inc. was approved on Board Member McCracken's motion, Board Member Leffingwell's second on a 6-0 vote. President Wynn was off the dais.

Work Papers and Other Backup Documentation

Item AHFC003 - December 6, 2007

Approve the negotiation and execution of a loan to MARY LEE COMMUNITY, or its affiliate, Austin, Texas, under the Rental Housing Development Assistance Program in an amount not to exceed $2,250,000, in compliance with applicable general obligation bond financing requirements and performance goals, to assist in the development of a 64-unit affordable rental housing apartment facility for low-income families and individuals with special needs at 1330 Lamar Square Drive, and waiving the maximum loan amount limit.

The motion authorizing the negotiation and execution of a loan to Mary Lee Community was approved on Board Member Cole's motion, Board Member Martinez' second on a 7-0 vote.

Work Papers and Other Backup Documentation

Item AHFC004 - December 6, 2007

Approve the negotiation and execution of (1) a back-up purchase contract for the acquisition of up to ten condominium units located in the Allandale condominium project located at 7685 Northcross Drive (Project) in an amount not to exceed $1,137,040; (2) acquisition assistance agreements for additional condominium units located in the Project in an amount not to exceed $1,600,000 in the event the back-up purchase contract is not exercised or $462,960 if the back-up purchase contract is exercised, under the Acquisition and Development Program for rental or sale to low- and moderate-income persons and families with disabilities; and rescind Motion No. 20070301-AHFC003.

The motion authorizing the negotiation and execution of a back up purchase contract for the acquisition of up to ten condominium units and acquisition assistance agreements for additional condominium units was approved on Vice President Dunkerley's motion, Board Member McCracken's second on a 7-0 vote.

Work Papers and Other Backup Documentation

Item AHFC005 - December 6, 2007

Appoint Margaret Shaw as a Director on the Board of Directors for Arbors at Creekside Non-Profit Corporation, Austin Inner-City Redevelopment Corporation and Villas on Sixth Non-Profit Corporation, to replace Kelly E. Weiss, for a term on each board that will expire on August 30, 2011.

The appointment of Margaret Shaw as a director on the Board of Directors for Arbors at Creekside, Austin Inner-City Redevelopment Corporation and Villas on Sixth was approved on Board Member Martinez' motion, Board Member McCracken's second on a 7-0 vote.